Our comprehensive cyber risks insurance policies offer peace of mind by covering a range of potential threats, including data breaches, ransomware attacks, and system replacement. Whether you’re cruising the open seas or docked at a marina, our policy ensures that your yacht’s digital infrastructure is covered.
Protect your investment and enjoy your time on the water with confidence, knowing that you have robust cyber protection in place. Welcome to a new era of yacht security with our specialized cyber risks insurance products.
Are Cyber Risks covered in Yacht / Superyacht Policies?
- The vast majority of insurers exclude cyber risks as standard.
- The majority of yachts do not take up cyber risks cover because the risks are often misunderstood and underestimated.
What are the Risks?
- Extortion: Cybercriminals may demand ransom to restore systems or data.
- Grounding: Navigation systems could be compromised, leading to grounding.
- Collision: Interference with navigation systems could result in collisions.
- Injuries: Cyberattacks could lead to physical harm to crew or passengers.
- Liabilities: Legal liabilities arising from data breaches or system failures.
What Can Be Covered?
- Forensic and Restoration Costs: Expenses for investigating and restoring systems.
- Legal Costs: Fees associated with legal defence and settlements.
- Emergency Accommodation: Costs for temporary accommodation if the yacht is unusable.
- Replacement Yacht: Provision for a replacement yacht if necessary.
- Hull Damage: Coverage for physical damage to the yacht.
- System Replacement: Costs for replacing compromised systems.
- Extortion Expenses: Payments made to resolve extortion demands.
- PR Costs: Expenses for managing public relations after a cyber incident.
- Liability: Coverage for liabilities arising from cyber incidents
What Additional Services Can the Insurer Offer?
- 24/7 Claim Management: Around-the-clock support for managing claims.
- Cyber Risk Management Survey: Assessments to identify and mitigate cyber risks.
- Head of Departments Training: Training for department heads on cyber risk management.
- Crew Training: Cybersecurity training for the yacht’s crew.
- Crisis Response: Immediate response services to handle cyber incidents
Our team of industry-leading experts can help you navigate the complexities of Cyber Risks Insurance and assist you in choosing a comprehensive protection that offers you peace of mind.